OPEC+ is expected to hold oil production flat in March and reiterate the first-quarter pause in supply hikes when the group meets on February 1 to discuss output levels, four delegates from the alliance told Bloomberg on Monday.   The group has not yet held discussions ahead of next Sunday’s online meeting, but it does not see any need of changing the policy despite the expected oversupply and the geopolitical developments that could influence supply from OPEC members Iran and Venezuela. Early this month, the eight OPEC+ members…

Russia and China seem unfazed by the U.S. and European sanctions on Russia’s Arctic LNG 2 project as deliveries continue into the new year. The Chinese Beihai LNG terminal has welcomed the first cargo of 2026 from the Russian project, Reuters reported on Monday, citing data from LSEG. The Buran LNG carrier loaded LNG from a floating storage unit near Murmansk on December 25 and has traveled via the Suez Canal route to China, according to the LSEG data. The Arctic LNG 2 operator, Russia’s Novatek, has started using the Suez Canal route…

U.S. natural gas prices on Monday extended their remarkable 70% rally from last week as the big freeze pushes heating and power demand to winter records. Early on Monday, the front-month U.S. natural gas benchmark price had jumped by 14% to above the threshold of $6 per million British thermal units (MMBtu) as gas demand surged to very high levels. This was the first time since 2022 that the price of U.S. natural gas has soared above $6 per MMBtu, and nearly double the price at the start of last week. The major storm also led to shut-ins of about…

U.S. natural gas prices on Monday extended their remarkable 70% rally from last week as the big freeze pushes heating and power demand to winter records. Early on Monday, the front-month U.S. natural gas benchmark price had jumped by 14% to above the threshold of $6 per million British thermal units (MMBtu) as gas demand surged to very high levels. This was the first time since 2022 that the price of U.S. natural gas has soared above $6 per MMBtu, and nearly double the price at the start of last week. The major storm also led to shut-ins of about…

U.S. natural gas prices on Monday extended their remarkable 70% rally from last week as the big freeze pushes heating and power demand to winter records. Early on Monday, the front-month U.S. natural gas benchmark price had jumped by 14% to above the threshold of $6 per million British thermal units (MMBtu) as gas demand surged to very high levels. This was the first time since 2022 that the price of U.S. natural gas has soared above $6 per MMBtu, and nearly double the price at the start of last week. The major storm also led to shut-ins of about…

Ukraine, Russia, and the United States are set to resume negotiations in Abu Dhabi next week after two days of what officials described as “constructive” peace talks, even as the war shows no signs of easing. On January 23-24, "the United States coordinated a trilateral meeting alongside Ukraine and Russia, graciously hosted by the United Arab Emirates," White House envoy Steve Witkoff wrote on X. "Talks were very constructive, and plans were made to continue conversations next week in Abu Dhabi. President [Donald] Trump and his entire…